Government is Monitoring Compliance of SOEs: Finance Minister

The Minister of Finance, Ibrahim Ameer has stated that the government is monitoring the compliance of state-owned enterprises (SOEs) to the Corporate Governance Code.

Minister Ameer expressed this in a letter to the Maldives Parliament, written in response to a question from Parliamentarian Ibrahim Rasheed. The letter stated that the government is keeping an eye on state-owned enterprises (SOEs) to make sure they follow the code.

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Minister Ameer explained that the government implements the policies through a “Comply or Explain” approach and regularly monitors SOEs’ compliance levels. He added that the finance ministry publishes a yearly report detailing reviews of the SOEs and their adherence to the policies.

The finance ministry’s statistics show that there are currently 32 SOEs, which consist of companies with full government ownership as well as companies with local and foreign shareholders.

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